ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a net profit of AED12.5 billion, compared to AED10.6 billion in 2020, marking a 19 percent increase year-on-year for the full year ended December 31, 2021. Group revenue was up 17% supported by solid trading performance and growth in fee-generating business, helping to offset headwinds from low-interest rates. Operating ...

  Abu Dhabi / WAM Taweelah Reverse Osmosis (RO), the world’s largest RO water desalination plant, will begin early commercial operations in the first quarter of 2022, by providing 100 million gallons per day (MGD), said Othman Al Ali, Chief Executive Officer of the Emirates Water and Electricity Company (Ewec). In a statement to the Emirates News Agency (WAM), Othman ...

  Bloomberg Tata Sons Pvt formally took charge of debt-laden Air India Ltd., ending years of failed attempts to sell the money-losing airline that has been kept afloat with billions of dollars of taxpayer money. “It is indeed noteworthy that the disinvestment process of @airindiain has been brought to a successful conclusion in a time-bound manner,” aviation minister Jyotiraditya Scindia ...